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Continued profitable growth for Carl Zeiss Meditec in the first three months of 2018/19

11.02.2019 / 07:00
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Continued profitable growth for Carl Zeiss Meditec in the first three months of 2018/19

Successful start to new fiscal year, with both strategic business units contributing

JENA, February 11, 2019

In the first three months of fiscal year 2018/19 Carl Zeiss Meditec generated revenue of EUR323.6m, representing an increase of 9.8% (adjusted for currency effects: +9.0%) compared with the same period of the previous year (prior year: EUR294.7m). Significant growth was posted in the EMEA[1] region, particularly in its core markets Germany, France and Southern Europe. Earnings before interest and taxes (EBIT) increased significantly to EUR48.1m (prior year: EUR38.9m). The EBIT margin also increased, to 14.9% (prior year: 13.2%).

"We have made a successful start to the new financial year and were able to further expand our market share in both strategic business units," explains Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG.

Solid growth in both strategic business units

The Ophthalmic Devices strategic business unit (SBU) increased its revenue by 10.7 percent in the first three months of fiscal year 2018/19 (adjusted for currency effects: +9.8 percent), to EUR239.5m, compared with EUR216.3m in the same period of the prior year. This revenue increase was mainly attributable to laser vision correction systems as well as devices and consumables in cataract surgery.

Revenue in the Microsurgery SBU grew by 7.4 percent (adjusted for currency effects: +6.7 percent), to EUR84.2m, compared with EUR78.4m in the same period of the prior year. Sales of neurosurgical visualization systems for the treatment of tumors and vascular disease also remained buoyant.

At EUR91.9m (prior year: EUR94.1; -2.3%, adjusted for currency effects: -4.9%), revenue in the first three months of the current fiscal year in the Americas region was slightly below the prior year's figure. This development is primarily attributable to new product launches at the beginning of the 2017/18 fiscal year, which had provided a strong boost to revenue in the same period of the prior year.

The APAC[2] region also posted a further increase in its revenue, of 17.1% (adjusted for currency effects: +16.2%) to EUR128.2m (prior year: EUR109.5m).

The operating result (earnings before interest and taxes: EBIT) increased significantly and reached EUR48.1m in the first three months of the current fiscal year (prior year: EUR38.9m). The EBIT margin increased from 13.2 percent to 14.9 percent. Adjusted for special effects, this represented an increase of 15.1% (prior year: 13.5 percent). Earnings of EUR0.32 per share remained at the same level as the previous year.

For fiscal 2018/19, we are expecting to grow at least as fast as our markets, which is confirmed by our business performance in the last three months. We are also holding to our margin target. We are expecting an EBIT margin in the range of 14 to 16 percent in the current fiscal year and in the medium term," said Dr. Monz, confirming the forecast published in December 2018.